Luxury hot spring hotel to open on 13.5ha site in Hakone
Mitsui Fudosan and Mitsui Fudosan Resort Management are opening a luxury hot spring hotel on a 13.5 hectare site in Hakone in 2026. Hotel The Mitsui Hakone will follow the 2020 opening of Hotel The Mitsui Kyoto. This is Mitsui’s upper-end hotel brand. It will operate in a tie-up with Marriott’s The Luxury Collection, to appeal to inbound travelers.Read more
Hakuba’s hotel shortage may hinder tourism potential
The rise in inbound tourism is outpacing Hakuba’s supply of hotels, leading to a shortage of beds this ski season. Hotels opened up their winter reservations a month earlier this year and were quickly inundated with bookings from international guests. Many of the village’s hotels are now fully booked for this upcoming season.Read more
Nagoya hotel sells for 6.5 billion Yen
The Japan Prime Realty Investment Corporation J-REIT is acquiring a 153-room hotel on the eastern side of Nagoya Station. The acquisition price is 6.5 billion Yen (approx. US$44 million), which is around 42.5 million Yen per key. The cap rate is 4%, although it is leased to the operator under a fixed + variable rental agreement.Read more
Marriott-branded hotel in Tottori delayed
At a city council meeting on September 17, Tottori City Mayor Yoshihiko Fukazawa announced a delay in the proposed development of a Marriott-branded hotel on the Tottori sand dunes. The city is now scheduled to sign an agreement with the developer on January 1, 2025, after the prolonged pandemic led to the postponement of the planned 2021 and 2023 dates.Read more
60 billion Yen luxury resort project for Okinawan island
Keihan Real Estate, a subsidiary of rail-related Keihan Group, along with several other companies, is planning a 60 billion Yen (US$415 million) hotel resort project on Okinawa’s Minna-jima Island. Other project participants include Tokyo-based design firm Koikedesign Group, and Naha-based real estate firm ZEKKEI.Read more
Once-bankrupt resort hotel finds Hong Kong buyer
A Hong Kong-based tech and investment firm has acquired the Awashima Hotel in Shizuoka. This resort hotel is located on a small, uninhabited island off the coast of Numazu, with guests ferried over from the mainland.Read more
Raffles to open luxury hotel in Tokyo in 2028
On July 22, the World Trade Center Building, Kajima Corporation, Tokyo Monorail, and JR East announced that Raffles will be opening their first hotel in Japan in the World Trade Center Building redevelopment project.Read more